HARTFORD: If you know what a Blockchain is, never mind understand how it works you’ll be a head of the game on this story.
Hartford Bitcoin/Blockchain tech startup Tierion has raised $1 million dollars from San Francisco-based Blockchain Capital, Digital Currency Group and China-based Fenbushi Capital.
Fenbushi itself raised $50 million in 2015 to invest in blockchain-based startups and projects.
Tieron first launched its service fourteen months ago allowing users to turn data from web and mobile apps into “blockchain receipts” which are cataloged on a “Bitcoin blockchain.”
Bitcoins are a digital currency, where transactions can be made without a credit card or central bank and a blockchain is a public ledger for managing the data. A user has a secret code to prove their ownership of the currency.
Founder Wayne Vaughan told Coindesk a Bitconin news website that Tieron is “attracting interest from institutional partners “seeking to leverage its free API service to ensure data integrity.”
While gathering new company customers and attracting interest from institution investors Tieron remains a small company with only four employees.
Vaughn has decided however, that Connecticut isn’t the place to grow his company. He told the Hartford Courant in early November that he is moving his company, and his family to San Francisco saying he couldn’t recruit here.
“There’s a lack of talent, people I’m interested in recruiting are not interested.”